U.S. Income Tax Return for Regulated Investment Companies

ICR 200708-1545-026

OMB: 1545-1010

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supplementary Document
2007-08-23
Supporting Statement A
2007-08-23
Supplementary Document
2007-08-21
IC Document Collections
ICR Details
1545-1010 200708-1545-026
Historical Active 200410-1545-003
TREAS/IRS CB-1010-026
U.S. Income Tax Return for Regulated Investment Companies
Revision of a currently approved collection   No
Regular
Approved without change 01/10/2008
Retrieve Notice of Action (NOA) 12/27/2007
  Inventory as of this Action Requested Previously Approved
01/31/2011 36 Months From Approved 01/31/2008
3,605 0 3,605
369,021 0 380,425
0 0 0

Form 1120-RIC is filed by a domestic corporation electing to be taxed as a RIC in order to report its income and deductions and to compute its tax liability. IRC uses Form 1120-RIC to determine whether the RIC has correctly reported its income, deductions, and tax liability.

US Code: 26 USC 852 Name of Law: Taxation of regulated investment companies and their shareholders
   US Code: 26 USC 853 Name of Law: Foreign tax credit allowed to shareholders
   US Code: 26 USC 851 Name of Law: Definition of regulated investment company
   US Code: 26 USC 854 Name of Law: Limitations applicable to dividends received from regulated investment company
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
   US Code: 26 USC 855 Name of Law: Dividends paid by regulated investment company after close of taxable year
  
None

Not associated with rulemaking

  72 FR 34355 06/21/2007
72 FR 73422 12/27/2007
No

1
IC Title Form No. Form Name
U.S. Income Tax Return for Regulated Investment Companies Form 1120-RIC U.S. Income Tax Return for Regulated Investment Companies

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 3,605 3,605 0 0 0 0
Annual Time Burden (Hours) 369,021 380,425 0 -11,404 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
Form 1120-RIC and the instructions were revised, resulting in an addition of 2 attachments and a deletion of 12 line items and 22 code references. These changes caused a decrease of 11,404 burden hours, making the new burden 369,021.

$14,315
No
No
Uncollected
Uncollected
Uncollected
Uncollected
John Nelson 202 927-9488

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
12/27/2007


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